CJ Logistics, IGAWorks team up to boost data value

CJ Logistics, a South Korean logistics company, said on Thursday that it has signed a business agreement with IGAWorks Co., a big data platform company, to enhance its data cooperation.

IGAWorks, founded in 2006, is a data tech platform service provider valued at more than 1 trillion won ($838 million) by the Ministry of SMEs and Startups. It offers cloud-based services that collect and analyze anonymized data on mobile app users’ behavior.

The two companies aim to increase the value of their data by combining CJ Logistics’ parcel delivery data and IGAWorks’ external data (third-party data), such as consumer profiles.

They also plan to use IGAWorks’ machine learning-based AI engine and individual brand information to improve quality enhancement of data by subdividing the classification criteria of data based on parcel delivery invoices from existing three levels and 200, respectively, to four levels and 8,000.

"Digital transformation and big data utilization are key factors for future logistics changes," said Shin Young-soo, head of CJ Logistics’ parcel delivery and e-commerce division.

He added that CJ Logistics will lead the digital innovation-led growth by introducing advanced technologies such as robots, artificial intelligence and big data.

Write to Jeong-Cheol Bae at bjc@hankyung.com